Verona Pharma (NASDAQ:VRNA) Sets New 12-Month High - Time to Buy?

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.41 and last traded at $38.97, with a volume of 157815 shares trading hands. The stock had previously closed at $38.58.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Truist Financial increased their price objective on Verona Pharma from $38.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Verona Pharma from $50.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, HC Wainwright lifted their price objective on Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $43.83.

Verona Pharma Trading Up 3.3 %

The firm has a 50 day moving average price of $31.75 and a two-hundred day moving average price of $22.96. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -20.09 and a beta of 0.42. The company has a quick ratio of 8.61, a current ratio of 13.03 and a debt-to-equity ratio of 0.93.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). The company had revenue of $5.62 million during the quarter, compared to the consensus estimate of $2.31 million. During the same quarter last year, the firm posted ($0.18) EPS. As a group, equities analysts forecast that Verona Pharma plc will post -2.11 earnings per share for the current year.

Insider Activity at Verona Pharma

In other news, Director David R. Ebsworth purchased 39,360 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $4.80 per share, for a total transaction of $188,928.00. Following the completion of the acquisition, the director now owns 920,003 shares of the company's stock, valued at approximately $4,416,014.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director David R. Ebsworth bought 39,360 shares of the stock in a transaction dated Wednesday, November 6th. The shares were acquired at an average cost of $4.80 per share, with a total value of $188,928.00. Following the purchase, the director now directly owns 920,003 shares in the company, valued at $4,416,014.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Zaccardelli sold 110,456 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $4.38, for a total transaction of $483,797.28. Following the completion of the sale, the chief executive officer now owns 14,894,464 shares of the company's stock, valued at approximately $65,237,752.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,139,544 shares of company stock worth $4,992,952. Corporate insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VRNA. Sei Investments Co. grew its holdings in Verona Pharma by 3.7% during the 1st quarter. Sei Investments Co. now owns 74,294 shares of the company's stock worth $1,195,000 after acquiring an additional 2,640 shares in the last quarter. Bellevue Group AG raised its stake in shares of Verona Pharma by 35.6% during the 1st quarter. Bellevue Group AG now owns 1,139,295 shares of the company's stock worth $18,331,000 after purchasing an additional 299,299 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Verona Pharma in the 2nd quarter valued at approximately $859,000. Rosalind Advisors Inc. raised its stake in shares of Verona Pharma by 10.0% in the 3rd quarter. Rosalind Advisors Inc. now owns 275,000 shares of the company's stock valued at $7,912,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC acquired a new stake in Verona Pharma in the 2nd quarter valued at approximately $723,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Verona Pharma Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.